On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of surety bind producers including licensed resident and nonresident producers placing binds in DeKalb County, the state of Georgia, and in all other jurisdictions, I am contacting you regarding the overly restrictive financial strength rating and financial size requirement for surety companies imposed by the DeKalb County Government (County). Both the highly restrictive A rating requirement and the financial size category of XVII or better in the County’s contract requirements has recently come to our attention, prompting us to express our concerns to you about the detrimental impact this will have on bidder interest, robust competition, project price, and minority and disadvantaged business participation.
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Supporters Request H.R. 1285, the Water Infrastructure Subcontractor & Taxpayer Protection Act, Receive Markup Which Is Pending Before the Transportation & Infrastructure Committee